Wednesday, September 29, 2004

KPMG Survey: Insurance Execs Less Optimistic

Even before the full impact of the recent hurricane activity is known, the majority of the 150 senior insurance executives surveyed are less optimistic about premium growth and the industry's ability to increase margins, according to KPMG LLP. Survey results also reflected that the amount of resources needed to address Sarbanes-Oxley compliance was far greater than anticipated a year ago.

Only 57 percent of the executives surveyed indicated they expect their firms to perform above expectations in the next 12 months, as compared to 70 percent a year ago. The survey also found that the number of executives who indicated that the Sarbanes-Oxley Act has had the greatest impact on the way they do business, increased to 83 percent up from 58 percent last year.

KPMG Survey: Insurance Execs Less Optimistic

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